#21: Gaurav Suri, Chief Executive Officer, Arcesium
Innovation with a high-tech gloss isn’t confined to the front office. Quantitative hedge fund firm D.E. Shaw Group demonstrated that with its 2015 spinoff of posttrade servicer Arcesium. Headed by former D.E. Shaw head of information technology and software development Gaurav Suri, Arcesium offers such services as prime brokerage margin replication, internal books and records, profit-and-loss and portfolio data warehousing, SWIFT-integrated wire platforms, and fund-administration reconcilers. They are customized and delivered via the cloud, thereby simplifying hedge fund managers’ financial operations while they maintain control over posttrade functions.
“Clients have full access to real-time information, from any location, and complete control over a highly sophisticated software solution, while benefiting from the expertise of our professional services staff, working in unison with clients as a virtual extension of their in-house teams,” according to the company.
As of early February, Arcesium supported $65 billion in hedge fund assets and had more than 700 employees in New York and Hyderabad, India, compared with 650 a year earlier.
“R&D remains one of our largest expenditures, allowing us to maintain — and expand — our competitive edge,” says Suri, 47. “We have found that a relentless focus on providing our clients programmatic access to the highest-quality data, coupled with tight operational workflows, allows them to focus their energies on producing for their own clients.”